MassMutual Private Wealth & Trust FSB Acquires 5,711 Shares of JPMorgan Chase & Co. $JPM

MassMutual Private Wealth & Trust FSB lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.2% during the second quarter, Holdings Channel.com reports. The firm owned 263,591 shares of the financial services provider’s stock after acquiring an additional 5,711 shares during the period. JPMorgan Chase & Co. accounts for about 2.2% of MassMutual Private Wealth & Trust FSB’s portfolio, making the stock its 8th biggest position. MassMutual Private Wealth & Trust FSB’s holdings in JPMorgan Chase & Co. were worth $86,281,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Timmons Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $27,000. MBM Wealth Consultants LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $32,000. Osbon Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $35,000. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the third quarter worth $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel owned 46,428 shares in the company, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

JPM has been the subject of a number of research reports. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Argus upped their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Autonomous Res cut their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. The Goldman Sachs Group reiterated a “buy” rating and set a $418.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Finally, Morgan Stanley reissued a “positive” rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $359.33.

Trending Headlines about JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan announced plans to deploy more than $750 billion through 2035 through its American Dream Initiative—nearly 40% more housing capital than during the prior decade. The program targets financing for 1 million affordable housing units and assistance for 500,000 homebuyers, including 200,000 first-time buyers. JPMorganChase Doubles Down on Housing
• Positive Sentiment: The bank plans to increase mortgage lending by more than 40% and hire 850 Home Lending Advisors. Investors may view the expansion as a meaningful growth opportunity if housing supply improves and demand for mortgages, refinancing and affordable-housing finance strengthens. JPMorgan Stock Rises as Housing Plan Unfolds
• Positive Sentiment: Financial stocks advanced broadly, with the NYSE Financial Index rising 0.6%, providing a favorable sector backdrop for JPM. The move follows JPMorgan’s recent strong quarterly results, which exceeded analyst expectations for earnings and revenue. Sector Update: Financial Stocks Advance Late Afternoon
• Neutral Sentiment: JPMorgan economists reportedly brought forward their expectation for a possible year-end Federal Reserve rate increase, citing concerns about Fed credibility. Higher rates could support interest income but also pressure loan demand, bond values and credit quality. JPMorgan Rate Forecast
• Negative Sentiment: Commentary on the housing push warns that the large lending pipeline must pass a profitability test. The scale of the commitment could expose JPMorgan to margin pressure, housing-cycle risk and higher credit losses if returns do not justify the additional capital deployment. JPMorgan Makes Massive Push Into American Housing

JPMorgan Chase & Co. Stock Up 0.2%

Shares of JPMorgan Chase & Co. stock opened at $352.60 on Tuesday. The stock has a market capitalization of $944.79 billion, a P/E ratio of 15.11, a PEG ratio of 1.45 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The stock has a 50 day moving average price of $329.73 and a two-hundred day moving average price of $312.08. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $359.30.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. During the same period in the prior year, the company earned $4.96 earnings per share. The business’s quarterly revenue was up 27.7% compared to the same quarter last year. Equities analysts expect that JPMorgan Chase & Co. will post 24.27 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 6th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.71%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.